SC HOLDINGS' subsidiary plans to sell all issued share capital of three subsidiaries
SC HOLDINGS announced that it will sell all issued share capital of its wholly-owned subsidiaries World Mastery Limited, Crosslight Limited, and Chun Wing Company Limited on May 6, 2025, for a transaction amount of HKD 26.9603 million. This move aims to streamline the group's property portfolio, reduce risks, and unlock value, eliminate liabilities related to low-value assets, and confirm one-time sale proceeds to strengthen its financial position
According to the announcement from Nanhua Group Holdings (00413), on May 6, 2025 (after trading hours), the seller (a wholly-owned subsidiary of the company) entered into a sale and purchase agreement with the buyer, Splendid Enterprises Limited (a contact of Mr. Wu, a related person of the company). Under the terms of the sale and purchase agreement and subject to its conditions, the seller conditionally agrees to sell and the buyer conditionally agrees to purchase all issued share capital of the target company (i.e., the sale shares) for a consideration of HKD 26.9603 million.
It is reported that the target companies are World Mastery Limited, Crosslight Limited, and Chun Wing Company Limited.
The announcement stated that the sale provides an opportunity to streamline the group's property portfolio, reduce risks, and unlock value. By selling the relevant entities, the group can eliminate liabilities associated with low-value assets and recognize one-time sale proceeds to strengthen its overall financial position
